Inergetics, Inc. (OTCMKTS:NRTI) Makes A Good Run, Boosted By News
After the initial blast the stock of Inergetics, Inc. (OTCMKTS:NRTI) made on February 4 as the company announced its partnership with Terra Tech Corp. (OTCMKTS:TRTC), the ticker had a tough period.
Recently, however, things have changed as NRTI informed the public that they are forming a Scientific/Medical Advisory Board and that Yu Shao, Ph.D. will be joining them to help with the research and development of their line of natural cannabidiol (CBD)-based supplements for patients who experience pain, nausea and other devitalizing symptoms.
Mr. Yu Shao has a lot of experience, working with companies like Merck Sharp & Dohme Group and Pfizer, Inc. (NYSE:PFE), so his arrival is considered a good sign. The interest generated by the press release wasn’t immediate and the company stock began climbing the charts on February 7 and there were no other clues for the upward momentum.
Yesterday, there was a new addition to the Scientific/Medical Advisory Board. Joseph McSherry, M.D., Ph.D., a neurologist, joined the team to further help the research and development of the new line of CBD-based supplements.
It appears that this was good enough reason for a nice 53.28% gain and a closing price of $0.292. The volume was the highest in a little over a month, as 4.9 million shares switched hands, generating $1.3 million in trade value.
The latest financial statement of the company, which we discussed in our previous article isn’t exactly rosy, but at least NRTI were awarded $3.3 million from the New Jersey Technology Business Tax Certificate Transfer Program back in December, which should be enough to fuel their activities for the time being.
Still, NRTI is yet to become a profitable company and you should not skip doing your due diligence and weighing out the risks before making an investment decision.
Yesterday was a tough day for Growlife, Inc. (OTCBB:PHOT) and Medical Marijuana, Inc. (OTCMKTS:MJNA), as their ascent in the charts was stopped and they lost 8% and 5% of the gained value respectively.
